Regal Rexnord Co. (NYSE:RRX) Plans $0.35 Quarterly Dividend

Regal Rexnord Co. (NYSE:RRX - Get Free Report) announced a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.35 per share on Monday, July 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, June 30th.

Regal Rexnord has increased its dividend by an average of 2.8% per year over the last three years. Regal Rexnord has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regal Rexnord to earn $11.69 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.0%.

Regal Rexnord Stock Performance

Shares of RRX traded up $1.47 during midday trading on Thursday, hitting $107.31. 667,486 shares of the stock traded hands, compared to its average volume of 538,711. The business's 50 day moving average price is $112.94 and its two-hundred day moving average price is $145.12. The firm has a market capitalization of $7.11 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts predict that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RRX has been the subject of several research reports. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has an average rating of "Moderate Buy" and an average target price of $170.75.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.